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Mar 29 - 06:55 AM

USD/JPY - FX Traders Will Likely Push USD/JPY Through 110

By Martin Miller  —  Mar 29 - 04:59 AM
  • USD's short exodus puts it on the cusp of bigger gains nL1N2LQ072

  • Bets against yen go from trickle to torrent nL1N2LR0EJ

  • USD/JPY overcomes major 109.56 Fibo, 110.00 is now exposed nL1N2LQ09W

  • 109.56 Fibo a 76.4% retrace of 111.71 to 102.60 (Mar 2020 to Jan 2021) fall

  • USD/JPY has seen a 109.38-109.80 range on Monday, according to EBS data

  • USD/JPY, EUR/JPY 30-day log correlation remains under +0.5

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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